Mutual funds' asset under management decline 2.3% in September
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BusinessToday.In
Oct 11, 2020,
Updated Oct 12, 2020, 8:53 AM IST
The mutual fund industry's assets under management declined 2.3 per cent in September amid continued exodus of investors.
Story: Niti Kiran
Design: Pragati Srivastava
The overall assets under management saw their first decline of 2.3 per cent in the current financial, to Rs 26.86 lakh crore.
While liquid funds were the biggest drag in the debt segment, multi-cap and large-cap schemes saw the highest net outflows among equity categories in September.
Equity schemes saw net outflows for the third straight month, albeit lower at Rs 734 crore in the month of September.
Investors pulled over Rs 50,000 crore from debt funds, the highest outflow since March 2020.
The hybrid schemes have recorded net outflows for the third month in a row at Rs 4,219 crore.
The SIP contribution continued to slip for the sixth straight month as it stood at Rs 7,788 crore in September compared to Rs 7,792 crore in August
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